In and around Queenstown, the lakes and mountains are the most prominent features. But there is a third, the Shotover River.
The river lies between the Harris and Richardson mountain ranges and, in the 1860s, was the world's richest source of alluvial gold. It empties into the Kawarau River just to the east of Lake Wakatipu. You can get to Skippers on the river (today a bungy jump site) to see where much of the gold action occurred. But it is a rough, narrow 4WD road, not permitted for rental vehicles, and has nowhere to pull over or turn around in sections, high above the river gorge.
Easier options are to check out the Historic Bridge, which can be accessed off the main highway to Queenstown from Lake Hayes, followed by Tucker Beach Road. Another option is to take Gorge Road to Arthurs Point. An informal viewpoint is above one of the river gorges just before the one-lane bridge. Then, drive down Oxenbridge Tunnel Road to view rapids, a historic tunnel, and another gorge.
Other gold rivers of note in the region are the Arrow, easily accessed from Arrowtown, and the Kawarau, which runs from Lake Wakatipu to Lake Dunstan.